Well, I do get your drift. Yup, I know that these financings with warrants are less favorable than the financing that Woodford was providing, for example (who oddly was willing to pay a price that was slightly in excess of the SP at the time & without warrants). The drop in SP after the financing does NOT tell me EVERYTHING I need to know ... I understand the SP might have had some weakness, but I also believe the drop in SP to its current level is related to many other issues at hand, including the weakness in biotech stocks in general, the P5 report, the lack of news from the company recently etc.